Karan Mehrishi is the author of "The India Collective: What India is Really All About" and the forthcoming "The Making of Monetary Policy in India: Imagining the Future."
Blindly following the Federal Reserve's rate moves brings risks to region

Turkish President Tayyip Erdogan, right, and Central Bank Gov. Sahap Kavcioglu in Ankara on June 8: Kavcioglu has embraced Erdogan's ideas. © Reuters
Karan Mehrishi is the author of "The India Collective: What India is Really All About" and the forthcoming "The Making of Monetary Policy in India: Imagining the Future."